1 / 3

Favorable conditions will be created for the development of trade relations and the promotion of economic cooperation between the Eurasian Economic Union, its member states and Singapore. The Minister of Economy of Armenia Vahan Kerobyan voiced about it presenting the issue on Ratifying the Framework Agreement on Comprehensive Economic Cooperation between the Eurasian Economic Union and its Member States, on the one hand, and the Republic of Singapore, on the other hand for debate.

The initiative was debated at the sitting of the NA Standing Committee on Regional and Eurasian Integration held on April 18, which was moderated by the Deputy Chair of the Committee Vagharshak Hakobyan.

The document also envisages removing barriers between the countries in the fields of trade and investment, reducing business costs and increasing the efficiency of economic activity.

According to the Minister, the ratification of the agreement stems from the provisions of the Government Programme for 2021-2026.

“The Government of Armenia will continue the discussions on the initiative and mutually beneficial cooperation within the framework of the EAEU aimed at the maximum use of the opportunities provided by the structure, the growth of volume of trade between partner countries and the development of cooperation,” Vahan Kerobyan underlined.

The document was signed on October 1, 2019 in Yerevan.

The Committee endorsed the debated agreement.